The policy on preventing money laundering and terrorist financing crimes is one of the core pillars we focus on in financial oversight, in line with the Saudi Anti-Money Laundering Law issued by Royal Decree No. M/31 dated 11/5/1433H, its Implementing Regulations and all subsequent amendments. This policy sets out the general responsibilities of all our staff and of those who have contractual relationships with us.
The preventive measures we take to combat money laundering and terrorist financing crimes
- Identifying, understanding and assessing the money laundering and terrorist financing risks we may be exposed to.
- Taking justified decisions to mitigate the money laundering and terrorist financing risks of our products and services.
- Strengthening capacity-building and training programs to raise staff competence in line with the nature of the work in this field.
- Raising the efficiency of the channels used for combating these crimes and improving the quality of customer identification and due diligence procedures.
- Providing the tools needed to raise the quality and effectiveness of the work.
- Running awareness programs to raise staff awareness of combating money laundering and terrorist financing crimes.
- Relying on non-cash financial channels and their advantages to reduce the use of cash in expenses.
- Identifying the true beneficial owner, whether a natural or legal person, in financial exchanges.
- Seeking electronic links with relevant authorities to help verify the identity of persons and suspicious amounts.
Responsibilities
This policy applies within our activities, and all staff working under the company's management and supervision must read, understand and sign the regulations on combating money laundering and this policy, and comply with its provisions when performing their duties and job responsibilities. The finance department must spread awareness of this and provide all departments and sections with a copy of it.
When contracting with others, we make sure they follow and comply with the rules on combating money laundering and terrorist financing.
Reporting violations
If you discover a violation of this Policy and want to report it, please contact us immediately. We will investigate the situation and provide you with full assistance.
Changes and amendments
We reserve the right to modify this Policy or its terms relating to the Services at any time at our discretion. When we do, we will revise the updated date at the bottom of this page, post a notification within the Services, and send you an email to let you know. We may also provide notice to you in other ways at our discretion, such as through the contact information you have provided.
An updated version of this Policy will be effective immediately upon the posting of the revised Policy unless otherwise specified. Your continued use of the Services after the effective date of the revised Policy (or such other act specified at that time) will constitute your consent to those changes.
Acceptance of this policy
You acknowledge that you have read this Policy and agree to all its terms and conditions. By accessing or using the Services, you agree to be bound by this Policy. If you do not agree to abide by the terms of this Policy, you are not authorized to access or use the Services.
Contact us
If you have any questions, concerns or complaints regarding this Policy, you can contact us using the details below: